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Lac Du Flambeau Band of Lake Superior Chippewa Indians v. Coughlin: Brief on Behalf of Amici Curiae Professors of Federal Indian Law in Support of Petitioner
Get PDFAmici law professors listed in the Appendix are leading scholars and teachers of federal Indian law, with expertise in the rules of statutory interpretation that preserve the sovereign immunity of Native Nations absent Congress’s unequivocal expression of its intent to abrogate it. They file this brief out of a shared belief that the decision below is irreconcilable with this Court’s precedents and encroaches upon Congress’s constitutional authority to determine federal Indian policy.\u3c\p\u3e
The question of statutory interpretation in this case is answered by two bedrock principles of federal Indian law and the constitutional separation of powers between Congress and the Judicial Branch. Together, these principles make it clear that “it is fundamentally Congress’s job, not [the job of the federal courts], to determine whether or how to limit tribal immunity.” Michigan v. Bay Mills Indian Cmty., 572 U.S. 782, 800 (2014). Citing “policy” among other reasons, Pet. App. 12a, the First Circuit wrongly took on that job when it held that Native Nations may not invoke sovereign immunity to bar damages actions under the Bankruptcy Code.\u3c\p\u3
Individual Mobility and the Corporate Tax
No full textThe COVID-19 pandemic greatly increased the ability of individuals to move to their preferred location on the globe and continue to work remotely. This phenomenon has significant implications for individual income taxation because if they are U.S. citizens, these individuals are subject to two global residence-based tax regimes
The war in Ukraine and legal limitations on Russian vetoes
No full textA veto exercised by a permanent member of the UN Security Council to shield that state’s own manifest and prima facie aggression from condemnation and collective action by the Council is legally flawed. The UN Charter can be reasonably interpreted as prohibiting such a veto and depriving it of legal force. This flows from Article 27(3) of the Charter, in conjunction with the prohibition of the abuse of rights, as a manifestation of the principle of good faith, and the obligation to respect the right to life, against the background that the prohibition has the status of jus cogens. These norms generate a legal responsibility of all Security Council members to treat such vetoes as abusive and therefore as an abstention
The Historical Origins and Current Prospects of the Multilateral Tax Convention
No full textThis article has three aims. First, it surveys the pre-BEPS efforts to create a multilateral tax convention (MTC) from the 19th century onward, and explains why these efforts have failed, leading to an international tax regime dominated by unilateralism and bilateralism. Second, it contrasts the success of multilateralism in investment and trade law. Third, it examines the BEPS era efforts to create an MTC and suggests that, while there has been more convergence of the tax laws of countries, a fundamental divergence of interests persists that will likely doom any such efforts to failure. The article concludes that, at this time, tax law still remains unsuitable to multilateralism, in contrast to investment and trade law, mainly due to the monetary impact
Giving Shareholders the Right to Say No
No full textWhen a public company releases misleading information that distorts the market for the company’s stock, investors who purchase at the inflated price lose money when (and if) the misleading information is later corrected. Under Rule 10b‑5 of the Securities Exchange Act of 1934, investors can seek compensation from corporations and their officers who make materially misleading statements that the investors relied on when buying or selling a security. Compensation is the obvious goal, but the threat of lawsuits can also benefit investors by deterring managers from committing fraud
Faculty Workshop: Making SSRN Go Further and Going Further Than SSRN
Get PDFThis workshop was hosted by the University of Michigan Law Library and created by Sarah Woloschuk, Scholarly Publishing Librarian. It was presented on June 28 2023.
This workshop is primarily intended for faculty who have their works included in the Faculty Publications listing and who would like to: Increase their awareness of how to optimize SSRN metadata and become more visible to potential readers Learn the benefits of including their works in SSRN and the institutional repository Learn what metrics information is available from each platform
Provided here is a recording of the workshop presentation, as well as the slide deck with notes and a copy of the handout provided for the interactive component of the workshop.https://repository.law.umich.edu/presentations/1000/thumbnail.jp
Valuing Social Data
Get PDFSocial data production is a unique form of value creation that characterizes informational capitalism. Social data production also presents critical challenges for the various legal regimes that are encountering it. This Article provides legal scholars and policymakers with the tools to comprehend this new form of value creation through two descriptive contributions. First, it presents a theoretical account of social data, a mode of production which is cultivated and exploited for two distinct (albeit related) forms of value: prediction value and exchange value. Second, it creates and defends a taxonomy of three “scripts” that companies follow to build up and leverage prediction value and describes the normative and legal ramifications of these scripts.The Article then applies these descriptive contributions to demonstrate how legal regimes are failing to effectively regulate social data value creation. Through the examples of tax law and data privacy law, it demonstrates these struggles in both legal regimes that have historically regulated value creation, like tax law, and legal regimes that have been newly tasked with regulating value creation by informational capitalism, like privacy and data protection law.The Article argues that separately analyzing data’s prediction value and its exchange value may be helpful to understanding the challenges the law faces in governing social data production and the political economy surrounding such production. This improved understanding will equip legal scholars to better confront the harms of law’s failures in the face of informational capitalism, reduce legal arbitrage by powerful actors, and facilitate opportunities to maximize the beneficial potential of social data value
Modular Bankruptcy: Toward a Consumer Scheme of Arrangement
Get PDFThe world of international bankruptcy has seen increasing use of the versatile scheme of arrangement, a form of corporate reorganization available under English law. A key feature of the scheme is its modularity, whereby a debtor can restructure only a single class of debt, such as bond indentures, without affecting other debt, such as trade. This is the opposite of chapter 11 of the U.S. Bankruptcy Code’s comprehensive reckoning of all financial stakeholders. This article considers a novel idea: could the scheme be transplanted into the consumer realm? It argues that it could and should. Substantial benefits of more individually tailored debt relief would accrue, and costs within an expensive, court-focused system would reduce. But the proposal also encounters some serious complexities, inapplicable to the business world, regarding the scope of discharge in a “partial” consumer bankruptcy proceeding.The analysis proceeds as follows. First, it canvasses normative conceptions of consumer bankruptcy (an under-theorized domain) to propose what are argued to be essential attributes of debtor relief law, centering on the concept of abuse-policed discharge. Second, it discusses the history of the scheme of arrangement, its anti-holdout motivation, and its deployment of corporate reorganization modularity. It then makes a case for demand for modularity in the consumer realm based on recent empirical evidence from the Consumer Bankruptcy Project. Third, it sketches what a consumer scheme might look like, proposing a “car scheme” as a prototype that would divide personal debts into asset classes (vs. the conventional scheme’s creditor classes). The proposal includes both a strong and weak version, which under the former but not the latter would provide for discharge of related unsecured indebtedness. Fourth, the article discusses in some length the challenges presented, including whether the strong version would adequately police moral hazard, and whether either version might stray too far from the essential attributes of consumer bankruptcy law. It also assesses whether a limited car scheme would exceed the constitutional scope of laws “on the subject of bankruptcies,” discussing the roles collectivity and insolvency play in the answer to that question. Developments in cross-border insolvency law are also considered to further that enquiry. Finally, the article examines recent U.S. legislative proposals that could be considered kindred spirits and concludes that notwithstanding potential complexities, the time for the modular consumer scheme of arrangement has come
International Tax Law: Status Quo, Trends and Perspectives
No full textThis chapter addresses the status quo, trends, and perspectives in international tax law. The international tax regime (ITR) is based on two principles: the benefits principle and the single-tax principle (STP). The benefits principle gives the primary right to tax passive (investment) income to residence jurisdictions, and the primary right to tax active (business) income to source jurisdictions. Meanwhile, the STP states that all cross-border income should be subject to the rate of tax determined by the benefits principle. The chapter then argues that developments in the past decade have significantly bolstered the ITR, so that it does a much better job of protecting personal income tax (PIT) and corporate income tax (CIT) from erosion due to cross-border tax evasion and avoidance than it did prior to 2010. Specifically, the adoption of the US Foreign Account Tax Compliance Act and the consequent development of Automatic Exchange of Information and the Common Reporting Standard have significantly protected PIT, while the OECD Base Erosion and Profit Shifting Project has significantly improved CIT